Closing Brief

The market closed somewhat weak, although its very difficult to know if we have just maxed out on this large cycle from the November low. Trans/R2K were especially weak, closing in the red. The precious metals were again sharply lower, with Oil closing fractionally down.


sp'60min

Summary

Was today the top @ sp'1573?

Impossible to say, and with ADP jobs data early tomorrow, we could still do a test of that 2007 high of sp'1576..not that its particularly important in my view.

From a cycle perspective..we're arguably...done.
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*I hold an initial short position (USO) overnight..and look to add in the days ahead.

Primary target is the sp'1470s...although that is subject to much revision in the days..and weeks ahead.
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the usual bits and pieces across the evening.